Luxury property in Dubai dropped appreciably in first six months of year
The squeeze on Dubai’s property values getting too ahead of what can be deemed sustainable is paying off handsomely. The impact is most telling within the top-end of the residential marketplace, Gulf News has reported. Knight Frank report finds that high-end homes in Dubai saw value gains of 6.3% in the first months of the year. That is a relatively toned down growth pattern given that values for such properties in the first three months of the year were up 11.7%. “While there will always be investors interested only in trophy purchases in Dubai, the rest of the market is being driven by long-term buyers and end-users,” said the head of a brokerage firm.